Surmodics, Inc. (NASDAQ:SRDX) Short Interest Down 37.0% in February

Surmodics, Inc. (NASDAQ:SRDX) was the recipient of a significant decrease in short interest in February. As of February 28th, there was short interest totalling 271,300 shares, a decrease of 37.0% from the February 13th total of 430,900 shares. Approximately 2.0% of the company’s stock are sold short. Based on an average daily volume of 271,700 shares, the days-to-cover ratio is presently 1.0 days.

Wall Street Analysts Forecast Growth

SRDX has been the subject of a number of research analyst reports. Lake Street Capital raised Surmodics from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Friday, March 7th. StockNews.com initiated coverage on Surmodics in a report on Monday, February 3rd. They issued a “hold” rating for the company. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Surmodics in a report on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $50.00.

Surmodics Stock Performance

Shares of SRDX stock traded down $0.02 during trading hours on Friday, hitting $28.30. The stock had a trading volume of 103,729 shares, compared to its average volume of 170,970. The firm has a market capitalization of $404.58 million, a PE ratio of -28.02 and a beta of 1.19. Surmodics has a twelve month low of $25.17 and a twelve month high of $42.44. The stock’s 50 day moving average is $34.37 and its 200 day moving average is $37.39. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.45 and a quick ratio of 4.29.

Surmodics (NASDAQ:SRDX) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.04. Surmodics had a negative return on equity of 4.39% and a negative net margin of 11.48%. As a group, research analysts forecast that Surmodics will post 0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Surmodics

Large investors have recently modified their holdings of the stock. Modus Advisors LLC purchased a new stake in shares of Surmodics during the fourth quarter worth approximately $40,000. Quest Partners LLC raised its stake in shares of Surmodics by 107,100.0% during the third quarter. Quest Partners LLC now owns 1,072 shares of the company’s stock worth $42,000 after purchasing an additional 1,071 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Surmodics during the fourth quarter worth approximately $55,000. Longfellow Investment Management Co. LLC purchased a new stake in shares of Surmodics during the third quarter worth approximately $67,000. Finally, Legal & General Group Plc raised its stake in shares of Surmodics by 34.2% during the fourth quarter. Legal & General Group Plc now owns 3,452 shares of the company’s stock worth $137,000 after purchasing an additional 880 shares during the last quarter. Hedge funds and other institutional investors own 96.63% of the company’s stock.

About Surmodics

Surmodics, Inc, together with its subsidiaries, provides performance coating technologies for intravascular medical devices, and chemical and biological components for in vitro diagnostic immunoassay tests and microarrays in the United States and internationally. It operates through two segments, Medical Device and In Vitro Diagnostics (IVD).